Majuba Hill Copper Options the Copper Chest Property, Newfoundland
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*Press Release October 9, 2023
Majuba Hill Copper Options the Copper Chest
Property, Newfoundland
VANCOUVER, BC — October 9, 2023 — Majuba Hill Copper Corp. (CSE: JUBA |
OTC: JUBAF | FWB:4NP) (“Majuba Hill Copper” or the “Company”) is pleased to
announce that it has entered into a Share Exchange Agreement (the “Agreement”) with
1429570 BC Ltd. (the “Vendor”) to earn up to 100% in the Copper Chest Property.
The property is located on the Bonavista Peninsula, Eastern Newfoundland and is 180 km
SE of the provincial capital St. John’s and is comprised of 375 ha in fifteen separate
claims.
The Company has the right to earn up to a 100% interest in the Copper Chest property
under the following terms on or before Time of Closing (the “Closing Date”):
Issuing 13,260,000 Common Shares of Majuba Hill Copper (the “Consideration
Shares”) with the Consideration Shares being issued at a deemed price of $0.15
per share; and
receipt of all required regulatory, corporate , and third-party approvals including
the Canadian Securities Exchange (the “CSE”); and
the Closing Date shall be on or before November 15, 2023 (the “Termination
Date”).
David Greenway, CEO of Majuba Hill Copper Corp. commented, "In our ongoing pursuit
of growth and value creation, we are thrilled to announce our option agreement to secure
100% ownership of the Copper Chest Property in Newfoundland. This milestone
underscores our commitment to fortifying our Canadian copper portfolio and seizing the
moment to make timely acquisitions that enhance our company's worth during opportune
market conditions. The geological characteristics and copper mineralization found on the
Bonavista Peninsula bear striking resemblances to established sediment -hosted copper-
producing districts, further fueling our enthusiasm for the potential of this project.
Together, we embark on a journey of discovery, forging a path to prosperity, sculpting
our destiny one copper vein at a time."
Highlights of the property include:
The Property is predominantly underlain by turbiditic sediments of the Late
Precambrian Connecting Point Group.
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The group consists of grey to black shale, argillite and slate, green greywacke, and
minor conglomerate.
Mineralization occurs mainly as disseminated fracture -controlled chalcocite (+/ -
silver) hosted in grey to green sequence of gently dipping reduced sandstone and
siltstone.
Michel Dessureault 2001 Report 2778: Significant results include: 2,279 ppm Cu.1
Road access from Port Rexton or Trinity via Newfoundland and Labrador Route
230.
Figure 1- COPPER CHEST PROPERTY
Qualified Person
The scientific and technical information contained in this news release has been
reviewed by Larry Segerstrom, MSc (geology), CPG , a non -independent consulting
geologist who is a "Qualified Person" as such term is defined under National
Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43- 101").
1 Michel Dessureault 2001. 2001 Work Report, Red Cliff Property; Geological Survey of
Newfoundland and Labrador Geofile number NFLD_2778
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About Majuba Hill Copper Corp.
Majuba Hill Copper Corp. is engaged in the identification, review and acquisition of
latter stage copper and copper/ silver/gold assets. This is in direct response to the
growing worldwide demand and lack of supply for precious metals fueled by the Green
New Deal in the US and most other developed nations with similar programs aimed
at addressing climate change. Such programs are heavily reliant on silver, gold and
especially copper to produce Electric Vehicles and other renewable power sources, as
well as building infrastructure to provide clean and affordable electricity.
The flagship project is the Majuba Hill copper , silver and gold District located 156
miles outside Reno, Nevada, USA. Management has been mandated to focus on safe,
mining friendly jurisdictions where government regulations are supportive of mining
operations.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in
the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or
accuracy of this release.
On Behalf of the Board of Majuba Hill Copper Corp.
“David Greenway”
David C. Greenway
President & CEO
For further information, please contact:
Joel Warawa
VP of Corporate Communications
P: 1 (855) 475-0745
Forward-Looking Statements
This news release contains certain statements that may be deemed "forward -looking"
statements. Forward looking statements are statements that are not historical facts and are,
but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends",
"estimates", "projects", "potential" and similar expressions, or that events or conditions "will",
"would", "may", "could" or "should" occur. Although Majuba Hill Copper Corp. believes the
expectations expressed in such forward -looking st atements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results
may differ materially from those in forward looking statements. Forward looking statements
are based on the beliefs, estimates and opinions of Majuba Hill Copper Corp. management on
the date the statements are made. Except as required by law, Majuba Hill Copper Corp.
undertakes no obligation to update these forward -looking statements in the event that
management's beliefs, estimates or opinions, or other factors, should change.
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